* Price covers the $9 IAR CE reporting fee.

Course Description

This self-study course equips Registered Investment Advisers and Investment Adviser Representatives with practical tools to establish and maintain professional boundaries while strengthening client relationships. Using current NASAA and SEC expectations as the ethical and regulatory backbone, the course clarifies role boundaries, highlights risks of boundary erosion, and translates rules into everyday practices across modern communication channels. Through scenarios and policy templates, learners will practice identifying red flags, resolving boundary challenges, documenting decisions, and building firmwide procedures that promote trust, fairness, and compliance.

Difficulty Level: Foundational

IAR CE: 3 credits in Ethics and Professional Responsibility (Course # C28065)

CFP CE: 3 hours in General CE (Course # 344338)

Year Released: 2026

Course curriculum

    1. Course Instructions

    2. FINRA Reporting

    1. Introduction: Boundaries in Advisory Practice

    2. Foundations of Professional Boundaries

    3. Regulatory and Ethical Framework

    4. Quiz Module 1

    1. Communication Boundaries with Clients

    2. Managing Dual Relationships and Conflicts of Interest

    3. Financial Boundaries

    4. Quiz Module 2

    1. Emotional and Psychological Boundaries

    2. Cultural, Social, and Diversity Considerations

    3. Special Situations: Seniors, Vulnerable Investors, and High-Net-Worth Clients

    4. Quiz Module 3

    1. Digital Boundaries and Technology Risks

    2. Boundaries in Team-Based Advisory Practices

    3. Quiz Module 4

    1. Consequences of Boundary Violations

    2. Practical Tools for Maintaining Boundaries

    3. Quiz Module 5

About this course

  • $29.85
  • 23 lessons
  • IAR CE 3 Credits in Ethics and Professional Responsibility
  • $9 IAR CE reporting fee included

Course Learning Objectives

Upon successful completion, participants will be able to:

Define professional boundaries in the advisory context and explain why role clarity underpins fiduciary conduct.

Distinguish among emotional/psychological, financial/transactional, and communication boundaries, and map common risks for each.

Summarize core ethical duties (loyalty, care, good faith/fair dealing, disclosure, confidentiality) and locate key NASAA and SEC authorities that govern adviser–client interactions.

Identify early warning signs of boundary erosion (e.g., gifts, favors, social invitations, informal advice) and assess their legal, ethical, and reputational implications.

Apply structured communication practices—expectation-setting, channel and timing norms, documentation—to routine and difficult client conversations, including digital and social media use.

Analyze enforcement case studies to extract lessons learned and articulate compliant alternatives that would have mitigated the risk.

Implement step-by-step responses to potential or actual boundary breaches, including documentation, escalation, client communication, remediation, and reporting to compliance.

Draft or refine firm policies and procedures that operationalize boundary management (training, supervision, monitoring, and periodic reviews).

According to NASAA guidelines, to successfully complete the course, you must achieve a score of at least 70% on the final assessment. You have up to three attempts to reach this score. If you do not pass after three attempts, you will need to retake the entire course before you can try the assessment again.

Course Instructions

NASAA does not endorse any particular provider of CE courses. The content of the course and any views expressed are my/our own and do not necessarily reflect the views of NASAA or any of its member jurisdictions.

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